What Men Need To Know About Finances During and After Divorce

Posted on Oct 9, 2013 12:00am PDT

When it comes to divorce, men in Georgia, Georgia, need to know just how
they will fare financially at the end of the dissolution process. Perhaps
the most important aspect of this is property division.

First, men need to understand that a divorce does not have to be costly.
By being upfront in revealing all finances and assets, by properly identifying
what is and is not marital property and by keeping lines of communication
with a spouse open, men going through a divorce do not have to experience
financial strain that lasts for a long time afterward. The costs can be
even lower, even with filing fees, if a couple does not have children.

Second, consider alimony a reasonable price to pay to make sure both spouses
leave a marriage without undue financial hardship. It is understandable
that one or the other might resent paying alimony, but consider the tax
advantage: alimony is tax deductible. And these days, increasing numbers
of women are also required by courts to pay alimony if they have more
income and have provided a larger contribution to a couple's lifestyle.
Men should neither resent this nor feel insecure. Spousal support can
be of considerable help in getting one's new life on track.

Third, create a post-divorce budget. Calculate everyday expenses with alimony
and child support -- whether paying or receiving. Bear in mind that expenses
change when a person is no longer married; some costs are lower, and some
are higher.

Regardless of gender, post-divorce finances can be challenging and complex,
especially when considerable assets and property are involved. For this
reason alone, securing good legal and financial advice can make a significant
difference during negotiations over assets and property, making them run
more smoothly and more amicably and with an eye toward a fair and equitable
resolution.

The information on this website is for general information purposes only.
Nothing on this site should be taken as legal advice for any individual
case or situation. This information is not intended to create, and receipt
or viewing does not constitute, an attorney-client relationship.